Guideline Value for MULLAI NAGAR

Mullai Nagar guideline value

The current guideline value of Mullai Nagar in Kilakadi village, under the Salavakkam SRO, is Rs 101 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Mullai Nagar has changed

The guideline value for Mullai Nagar has seen several revisions over the years. In 2012, the value was set at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in 2017. Following this, the value increased significantly to Rs 100 per sq.ft in 2023 and further to Rs 101 per sq.ft in 2024, marking a 49% increase from 2017 to 2023 and a 1% increase from 2023 to 2024. It is important to note that the register has no figure for this street in 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 1%. The fluctuations in the values reflect the changes in the local real estate landscape over the years.

Guideline values in Kilakadi

In Kilakadi village, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 433 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value for Mullai Nagar is below this median.

• Mullai Nagar Extension: Rs 101 per sq.ft (2024)
• Marudham Nagar Extension: Rs 101 per sq.ft (2024)
• Marudham Nagar: Rs 101 per sq.ft (2024)
• Mari Amman Kovil Street: Rs 100 per sq.ft (2024)
• Nila Nagar: Rs 101 per sq.ft (2024)
• Nila Nagar Part -1: Rs 105 per sq.ft (2024)

Stamp duty and registration fee for property in Mullai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total to Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mullai Nagar?

The Sub Registrar Office covering Mullai Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Kilakadi

When buying or selling property in Kilakadi, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to assess the property’s value for registration purposes, ensuring that the correct fees are applied based on the established rates.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value is updated periodically, reflecting changes in the local real estate market.

Frequently asked questions

What is the current guideline value of Mullai Nagar?

The current guideline value of Mullai Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mullai Nagar has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification for Mullai Nagar?

Mullai Nagar falls under the Residential Class I Type - II land classification.

Where is the Salavakkam Sub Registrar Office located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How do I calculate the stamp duty and registration fees for a property in Mullai Nagar?

To calculate the stamp duty and registration fees for a property in Mullai Nagar, you can use the guideline value. For example, for a 1,000 sq.ft plot at Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000, with stamp duty and registration fees amounting to Rs 9,090 combined.